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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (61648)	3/3/2010 2:29:47 AM
From: abuelita	Respond to of 217906

LMAO - very good :)

To: Cogito Ergo Sum who wrote (61648)	3/3/2010 3:23:42 AM
From: TobagoJack	1 Recommendation Read Replies (1) \| Respond to of 217906

just in in-tray, and i quote QUOTE A question for those smarter than me.... FT reports: The fourth-quarter loss resulted in a net worth deficit of $15.3 billion as of December 31, 2009, taking into account unrealized gains on available-for-sale securities during the fourth quarter. As a result, on February 25, 2010, the Acting Director of the Federal Housing Finance Agency submitted a request for $15.3 billion from Treasury on the company’s behalf. FHFA has requested that Treasury provide the funds on or prior to March 31, 2010. A reminder: Fannie had previously drawn $15bn from the Treasury in November. Is any money transferred from the Treasury to Fannie Mae then added to the US budget deficit? I'm guessing the answer is "yes." Let me know if my assumption is wrong. Because as XXX has noted before, and Rosenberg wrote today, the US is totally stuffed if Fannie and Freddie do not foreclose on delinquent properties in short order. Otherwise, only an idiot would continue to pay his mortgage if he was significantly underwater. And if that becomes the modus operandi, along with a reluctance to foreclose, the cascading effect just gets worse. And who ends up paying? The US taxpayer. That hole in the US budget deficit is set to explode much larger than economists and DC pols are expecting if this is the case. We are so screwed.... END QUOTE